New Industries Govt. To Publish Nine Agreements

Press, Volume CI, Issue 29739, 5 February 1962, Page 14

New Industries Govt. To Publish Nine Agreements

(From Our Own Reporter) WELLINGTON, February 4. To inform the public about Government agreements with several manufacturing firms made over the last three or four years, the Government intends to release details of nine of the agreements within a few days.

This was confirmed tonight by the Minister of Industries and Commerce (Mr Marshall), who said that he had already advised the firms concerned by letter. The agreements, most of which were made by the Labour Government, concern the setting up of new industries valued at more than £3O million. They include two with G.K.N., Ltd., to make nuts and bolts and to set up a

wire-drawing plant, and one each with Pacific Steel, Ltd., McKendricks Glass, Austral Standard Cables, Ltd., Cooks Wire Ropes, the oil refinery, the Alcan agreement and the gin industry. The agreements are believed to have been closely examined at Cabinet level over the last few weeks. Some Ministers believe that they contain clauses similar to those in the Nelson cotton mill agreement, and requests have been made that the public should be fully informed. In some cases the agreements are said to restrict trade and some quarters have urged a thorough investigation.

The Government wishes to release resumes of the agreements only to inform the public. At the moment, it is understood, no negotiations for cancellation or amendment of any of the agreements are intended.